Bryn Mawr Capital Management LLC Decreases Stake in Incyte Co. (NASDAQ:INCY)

Bryn Mawr Capital Management LLC cut its holdings in Incyte Co. (NASDAQ:INCY) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,798 shares of the biopharmaceutical company’s stock after selling 500 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Incyte were worth $331,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. CWA Asset Management Group LLC purchased a new stake in shares of Incyte in the fourth quarter valued at approximately $1,933,000. Orion Portfolio Solutions LLC acquired a new position in Incyte during the third quarter worth $770,000. Greenwood Capital Associates LLC acquired a new position in Incyte during the third quarter worth $433,000. Tri Ri Asset Management Corp acquired a new position in Incyte during the third quarter worth $3,292,000. Finally, Cypress Capital Group acquired a new position in Incyte during the third quarter worth $971,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,652 shares of company stock valued at $988,834. Company insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Incyte stock opened at $73.18 on Friday. The firm has a market capitalization of $14.16 billion, a P/E ratio of 271.05, a PEG ratio of 0.41 and a beta of 0.70. The stock has a fifty day moving average price of $71.68 and a 200 day moving average price of $69.75. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. Equities research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on INCY. Citigroup reduced their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Royal Bank of Canada reduced their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Friday, December 13th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.25.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.